Bitcoin 'in position' for first key RSI breakout in 6 months at $85K 📈
Bitcoin is on track for a pivotal RSI breakout for the first time in six months, as it circles around the $85,000 mark. The digital asset demonstrated resilience, showing strength in weekend trading and aligning with an overall uptick in the broader crypto market.
Analysts like Daan Crypto Trades and Rekt Capital note Bitcoin’s encouraging signs, with a potential retesting of past downtrends now suggesting support. Matthew Hyland emphasizes the imminent weekly bullish RSI divergence, poised to establish itself for the first time since last September.
The forecast suggests that even though a downturn has been observed, the long-term bullish channel persists, reinforcing trust in Bitcoin's potential for upside continuation in the upcoming weeks. Despite market jitters, experts believe the market is nearing a bottom zone, potentially leading to a rebound.
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